In the wake of a new tax year, we have compiled a summary of the changes that are coming in for trusts and estates from 6 April 2024.
Tax (Personal)
Pre year end tax planning for individuals
Now is a good time to consider your personal tax planning opportunities if you haven’t already done so.
Autumn Statement round-up: MTD for ITSA
Rachel explains the changes to Making Tax Digital for Income Tax Self Assessment which have been announced today.
Autumn Statement round-up: Changes to National Insurance
Adam provides a summary of the National Insurance changes announced by the Chancellor.
Autumn Statement round-up: VAT & Personal Tax
Rob provides a summary of the announcements relating to VAT and Personal Tax.
How can the HMRC app help to boost your finances?
Find out more about how the HMRC app can help to check and manage your finances with details of support offered.
Will I get taxed when being reimbursed for charging my company car at home?
HMRC has published amended guidance regarding home charging of electric company cars which means that there will not be a separate charge to tax as a result.
What are the tax implications for child benefit if you earn over £50,000?
If you are claiming child benefit, it is important to be aware of this threshold which hasn’t changed with inflation as more parents are likely to get caught out by it.
HMRC have raised interest rates again as the base rate has increased
Rob gives a reminder of the changes which came into effect on 11 July 2023.
Can a staff summer party be tax-free?
Rachel explains the exemptions around having an annual event for staff whether it’s a summer barbeque or the Christmas party.
What can I use my Tax-Free Childcare account for?
Rachel reminds working parents that the Tax-Free Childcare account can include paying for a summer holiday club.
You don’t know what you don’t know!
Shaun explains the areas he explores to ensure businesses are getting the most out of their accountant.
HMRC targets Airbnb hosts as part of its Let Property Campaign
Rachel explains HMRC is targeting those in the short-term rental market so if you think you may have underdeclared your property income, now is the time to act.
Start-up electric bike business have our experts on hand to support their growth journey
By understanding the business and its goals from the outset, Shaun explains how he has been able to bring in the right expert at the right time to help EDEMO Electric Bikes manage their rapid growth.
What tax allowances can I claim?
You may find that increases in your income push you into higher rates of tax or that ultimately you may see your tax liability increase, Adam explains what you can do to make the best use of your tax allowances.
CGT problems on disposals of residential property
CGT in respect of gains on residential property must be reported and paid to HMRC within 60 days from completion – Rachel highlights a couple of issues to be aware of.
Self-employed individuals and landlords given more time to prepare for MTD for ITSA
MTD was due to be phased in from April 2024, however, HMRC have announced some changes which are explained by Rachel.
Delayed Making Tax Digital for Income Tax and Self Assessment – who will it impact?
Rob explains the reason behind the delay along with some specifics about who and how individuals would be impacted.
Autumn Statement: Changes to Personal Tax
We outline the personal tax changes which will result in additional tax being paid by most individuals.
Autumn Statement: Changes to Tax on Electric Cars
Rachel provides detail about the changes to tax on electric vehicles concerning two main areas; road tax and benefit in kind.